Amy Will Deposit $5,000 a Year into an IRA for the Next

question 243

Multiple Choice

Amy will deposit $5,000 a year into an IRA for the next 30 years.  How much will Amy have if the IRA earns 7%? ​

• A)​$38,061
• B)​$472,304
• C)​$62,045
• D)​$505,365

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Definitions:

Direct Control

A management approach that involves explicitly regulating process, decisions, and actions within an organization to ensure compliance and achieve objectives.

Decision Making

The cognitive process of making choices by identifying a decision, gathering information, and assessing alternative resolutions.

Gathering Information

The process of collecting data or facts from various sources to understand a situation, problem, or topic better.

Specific Event

A particular occurrence or happening, often one of significance, that is distinct and identifiable in time and place.